Last Friday evening, LME zinc prices opened at $2489.5/mt and went down to close at $2440/mt, down $49.5/mt or 1.99%. Trading volume increased to 9076 lots, and open interest added 1428 lots to 203,000 lots. LME zinc inventories decreased by 1750 mt to 143425 mt, a drop of 1.21%. The strengthening US dollar put pressure on non-ferrous metals last Friday, and non-ferrous metals generally fell.
Last Friday evening, the most active SHFE 2310 zinc contract prices opened at 21190 yuan/mt and lost 130 yuan/mt or 0.61% to settle at 21290 yuan/mt. Trading volumes decreased to 76563 lots and open interest increased 160 lots to 107,000 lots.
Last Friday, SHFE zinc prices followed LME zinc prices up. Zinc concentrate supply tightened as domestic zinc concentrate TCs fell along with imported zinc concentrate TCs. Meanwhile, SMM social zinc inventories remained low. Zinc prices may have a chance to rebound.
